10-Q · July 28, 2026
NeoGenomics delivered Q2 revenue of $201.656 million, up 11.2% year over year and 7.8% sequentially, with gross margin expanding 300 basis points year over year to 45.6%. GAAP diluted EPS improved to $0.02 from losses…
Earnings analysis · 10-Q
NEO earnings analysis
Filed October 28, 2026 · Our reading of the company's report
The latest report
NeoGenomics delivered a strong third quarter, with revenue of $209.254 million, gross margin of 46.2%, and adjusted diluted EPS of $0.07, all supported by 13% Clinical Services growth and 29% NGS growth. GAAP diluted…
Read full summary
NeoGenomics delivered a strong third quarter, with revenue of $209.254 million, gross margin of 46.2%, and adjusted diluted EPS of $0.07, all supported by 13% Clinical Services growth and 29% NGS growth. GAAP diluted EPS remained negative at $(0.06), and the filing extract does not provide operating cash flow, free cash flow, balance-sheet detail, or a current operating margin. Management raised full-year 2026 revenue guidance to $807-$809 million and adjusted EBITDA guidance to approximately $60 million, while the principal newly disclosed financial risk is the $316.3 million 2032 Convertible Notes issuance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
- Gross margin
- 46.2%
- Segment
- Clinical Services: $195 million, up 13% year over year; NGS revenue grew 29% year over year.
What stood out
-
Revenue beat and accelerated
Revenue was $209.254 million, exceeding the $207.383 million consensus estimate. Revenue increased approximately 3.6% from $202 million in 2026 Q2 and 11.3% from $188 million in 2025 Q3.
-
Gross margin reached 46.2%
Gross margin expanded to 46.2%, up 0.6 percentage points from 45.6% in 2026 Q2 and 3.4 percentage points from 42.8% in 2025 Q3.
-
NGS drove clinical growth
Clinical revenue was $195 million, up 13% year over year, with NGS revenue growth of 29% supporting the increase.
-
Adjusted EPS exceeded estimates
Adjusted diluted EPS was $0.07 versus the $0.04 consensus estimate, while GAAP diluted EPS was a loss of $0.06 compared with positive $0.02 in 2026 Q2 and a loss of $0.21 in 2025 Q3.
-
Full-year outlook raised
Full-year 2026 revenue guidance increased to $807-$809 million from $802-$806 million, while adjusted EBITDA guidance rose to approximately $60 million from $56-$58 million.
-
New long-dated financing secured
The company issued $316.3 million of 2032 Convertible Notes in June 2026 at a fixed annual interest rate of 0.75%; management states the fixed rate does not create economic interest-rate exposure.
What to watch
-
GAAP earnings remained negative
GAAP diluted EPS was a loss of $0.06 despite adjusted diluted EPS of $0.07, indicating continued non-GAAP-to-GAAP earnings disparity.
-
Convertible debt and fair-value exposure
The June 2026 issuance of $316.3 million of 2032 Convertible Notes adds long-dated convertible debt. Although the coupon is fixed at 0.75%, the filing states that the notes' fair value is exposed to changes in interest rates and the common stock price.
-
Existing 2028 notes remain outstanding
The company has $345.0 million principal amount of 2028 Convertible Notes with a fixed annual interest rate of 0.25%; their fair value also changes with interest rates and the common stock price.
-
Unhedged foreign-currency exposure
The company operates in Cambridge, United Kingdom, and has foreign-currency revenues and expenses, primarily in British pounds. It does not hedge foreign-currency risk, although management does not currently consider the exposure significant.
-
No new risk-factor disclosure
The 10-Q directs investors to the risk factors in the 2025 Form 10-K and does not identify additional changes to those risk factors in Item 1A.
-
Unquantified litigation exposure
The filing states that legal proceedings arise from time to time and refers investors to Note 12, but the provided filing text does not quantify any related exposure.
Management's outlook
Full-year 2026 revenue guidance was raised to $807-$809 million from $802-$806 million. Adjusted EBITDA guidance increased to approximately $60 million from $56-$58 million, and GAAP net loss guidance improved to $(32)-$(30) million from $(42)-$(34) million.
Earlier filings 4
10-Q · April 28, 2026
NeoGenomics reported Q1 2026 results with revenues of $186.67M, surpassing analyst forecasts of $184.47M, and an EPS of $0.01, beating the expected loss of $0.02. This quarter marks a significant increase in revenue of…
10-K · February 17, 2026
NeoGenomics positions itself as a comprehensive, oncology-focused diagnostics provider prioritizing growth in therapy selection and MRD (molecular residual disease) while leveraging its PanTracer/NeoTYPE/NGS menu and…
10-Q · October 28, 2025
NeoGenomics reported revenue of $187.8M for the quarter ended September 30, 2025, up versus the prior-year quarter and showing contribution from the April Pathline acquisition. Gross profit was $80.4M (42.8% margin) but…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.